"It's a great honour to put this special project into the hands of such a gifted writer and iconic director," said Nathan Kahane, president of Mandate Pictures, who will executive produce the film. The original Oldboy, the second of Chan-wook's Vengeance Trilogy, won the Grand Prix at Cannes in 2004.

Meanwhile Lee, who was on a three-year hiatus following problems with financing, has apparently started work on another, separate project. The director posted this on his Twitter feed earlier today: "On the way to the set of THE NEW SPIKE LEE JOINT. Today is 1st Day of Shooting. Awwwwwwwwwwww Sheeeeeeeeeeeeet."

The second project, apparently called Red Hook Summer, after the Red Hook area of Brooklyn, New York, is rumoured to feature a re-appearance of Mookie – the pizza delivery man that Lee played in 1989's Do the Right Thing. If confirmed this would mark Lee's first appearance in one his own films since 1999, when he gave himself a small role in Summer of Sam.